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Is Investment Managers a good career path? If you are interested in a path that pays well, offers exciting challenges, and is in a fast-growing field, then investment management could be a great career choice.

If you don’t like stress, aren’t good with numbers, or don’t want a financial degree, then investment management probably isn’t a good fit.

This article will describe the benefits and duties of investment management, drawbacks, necessary skills and education, and how to get started.

Is Investment Managers a Good Career Path?

According to the BLS, more commonly known as the US Bureau of Labor Statistics, nearly 700,000 financial managers are working in the country right now.

The expected outlook for the field is 17% growth, so new investment manager-type jobs are only expected to increase.

As an investment manager, you can find work for banks, brokers, and high-net-worth individuals. If you have the desired experience and credentials, you can even become an associate at multi-billion dollar companies like JP Morgan Chase or Merrill Lynch.

Even if you’d prefer not to work for “the man,” you’ll have skills you can use to start your firm if you like!

The same US government statistics track the number of financial managers and note that the median pay for financial managers is about $131,000 annually!

While that’s not the money you’d see until you had several years of experience, you could expect to make about $51,000 on the low end at the start of your career.

Apart from paying well and having a phenomenal job outlook, being an investment manager can be a good career path if you enjoy problem-solving and thinking outside the box.

You can spend your whole day tracking down the best financial decisions on behalf of your clients, which can bring your satisfaction to a job well done.

 

a stack of United States dollar bills representing is investment managers a good career path
Is investment managers a good career path?


What Do You Do as an Investment Manager?


The short version is that an investment manager runs another person’s investment portfolio.

Investment managers listen to each client’s unique financial goals, willingness to accept investing risks, and overall financial priorities.

The manager then oversees the client’s investment-related assets. This means buying and selling stock, choosing strategies for the ideal investment, and potentially even tax planning.

The client delegates a certain amount of financial authority to the investment manager, who can divide the client’s portfolio between bonds, stocks, and other investment forms.

If you obtain enough expertise, you can help high-net-worth (i.e., wealthy) people manage their estates and create overall wealth management strategies.

Being an investment manager is a good career path for anyone interested in working with the stock market and helping clients create more excellent financial stability and wealth.

Why a Career in Investment Management Might Appeal to You?

Not everyone may want to be an investment manager.

However, if you appreciate career flexibility, helping others make money (and receiving a nice reward on the side), solving puzzles, a solid work-life balance, and the potential to be your boss, then becoming an investment manager can be a good career path for you.

Between the diverse job market, the chance to reap considerable dividends for yourself, relatively more reasonable working hours versus other investment-type careers, and the opportunity to exercise a variety of financial, mathematical, and personal development skills, investment management can be a perfect fit for high-achievers with solid math skills.

What Are the Cons of an Investment Management Career?

No job is perfect, and investment management is no exception.

While investment managers can typically enjoy a superior work-life balance, they can still feel stress when the global and domestic markets perform poorly.

Investment managers will likely also feel pressure to do well for their clients, whose money they are helping to manage.

Depending on the model your firm operates under (or your individual financial needs if you go into business singlehandedly), you will likely need to constantly search for new prospects to build a solid client base.

This extra networking may create additional stress beyond the work of investment management itself.

In addition, the investment industry is highly regulated, so investment managers must stay on top of licensing requirements and any legally required continuing education courses.

There are many things to juggle to be a successful investment manager.

What are the Most Important Skills to Be a Successful Investment Manager?

Capable investment managers are passionate about the financial management industry, thrive on competition, and care about solving people’s problems.

They also need a good acumen for numbers, including data analysis.

As an investment manager, you will also need to be a self-starter who can set and follow your own goals, all while keeping up with a busy and high-stress schedule.

What Degree Does an Investment Manager Need?

Since they work extensively in the financial sector, investment managers need at least a bachelor’s degree in a finance-related field, such as financial management, accounting, or economics.

You could also get a degree in law, mathematics, or even a general business.

You may get a leg up in the industry if you also obtain a master’s degree in business administration (MBA), which will increase your knowledge and skill in practical accounting, financial management, and business ethics.

Many certification programs are recommended or, in some cases, even required by law for investment managers.

For example, you could become a Chartered Financial Analyst (CFA), a program that teaches advanced-level analysis for investment purposes.

Another option is the Chartered Alternative Investment Analyst (CAIA) certification, which is famous for managers interested in working with hedge funds and physical assets.

Financial Risk Managers (FRM) are professionally designated to help large institutions analyze markets and invest accordingly.

Whichever certifications you choose, you will probably also need to check with your state to see if there are any required local certifications or licenses to apply for before you can become an investment manager.

How Do I Start a Career in Investment Management?

If you’re confident that becoming an investment manager is a good career path for you, you’ll want to obtain a relevant bachelor’s degree in finance, law, accounting, etc.

While working on your degree, you can seek internships and even volunteer work at investment management firms or similar financial institutions.

Once you have enough education and experience, you can search for firms hiring new investment managers.

As long as you make connections during your education and internship years, you should be able to find a great firm to work for at the start of your career.

 

 

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